Media captionHighlights from George Osborne's interview on the Today programme

A mere two months ago George Osborne was the second most powerful member of the government.

Then he was the first cabinet minister Theresa May sacked when she became prime minister, dispatching him to the backbenches.

Politics is brutal. But if Mrs May hoped the former chancellor would disappear she was wrong.

While David Cameron has opted for memoir writing and - it's safe to predict - a future on company and charity boards his old ally is staying in politics. With typical wily twinkle George Osborne said he would not be writing his memoirs because he didn't know how the story was going to end.

He will not want to be a sniping critic of the government he's been excluded from.

That would not endear him to the Conservative party inside or outside Parliament. But he will speak out as his fascinating Today programme interview demonstrated.

His cool support for Theresa May's grammar school plan; his readiness to say the new government initially "wobbled" in its backing for his Northern Powerhouse project; his suggestion the three month delay in approving the Hinkley Point power station had made little difference to the final deal.

George Osborne stressed he supported Theresa May and said the new government had made a "strong start".

But this interview showed he is keen to define his own reputation; a politician prepared to wait for the tables to turn again.